Joe Biden reassures that 'banking system is solid' after SVB collapse
US President Joe Biden assured Monday that "Americans can be confident that the banking system is strong" in a speech at the White House after the collapse of California's Silicon Valley Bank (SVB) caused turmoil in financial markets, reports Agerpres.
He called on Congress to strengthen regulation of the sector, tightened after the Lehman Brothers bankruptcy in 2008 but later relaxed by President Donald Trump.
Joe Biden had already promised on Sunday, in a tweet, that those responsible for the collapse of the SVB would be held accountable.
